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Ketan Parekh

Temptation Foods at Rs 22….Just don’t get Tempted….has all the Ingredients for a superhit Bollywood Potboiler recipe !….item song included !

12 Comments / Agriculture, Chuckle !, Controversies, Corporate Governance, FMCG, Foreign Institutional Investors, Horticulture & Floriculture, Insider Trading, Interesting News Sightings, INVESTOR MISTAKES, Reflections, SEBI, Sectors, STOCKS, VALUATION, Welcome / By

Shahzad…this one’s for you…you had asked for it a few days ago……Temptation Foods (TFL)

PRESS EXPOSE OF TEMPTATION FOODS & IT’S PROMOTER VINIT KUMAR

TFL and it’s arrested Promoter Vinit Kumar was yet again the News yesterday morning in the Mumbai Mirror …. the Mumbai Morninger from the Times of India Group was following up from it’s story of November 30,2010 that exposed the link between Kumar and the Home Ministry Mole Ravi Inder Singh

Yesterday press coverage breaks an Intelligence Bureau Report that links the barred scamster Ketan Parekh and his cronies and front companies to Vinit Kumar and Temptation Foods and the intended modus operandi to rig the share price of the Company….

…..and that Vinit Kumar was the middleman in the Telecom Scam !

And  Mumbai Mirror states that the  IB Report ,a copy of which they have in their possesion, states that 12000 conversations of Singh have been recorded over three mobile phones….those between Kumar and Singh reveal that Kumar was the middle man supplying Money and Call Girls to Singh in exchange for Sensitive Government Information…further, both colluded so that TFL could get to co promote the Rs 100 crs Food Park in Jangipur,West Bengal ……in this context it is amusing to read TFL’s clarification signed by  Mr Nimish Thakore,President of Corporate Affairs and Company Secretary….he denies that any benefit was received from Singh even though Singh was the Director of Horticulture,West Bengal and therefore also on the Board of the Food Park before he was deputed to the Home Affair Ministry  http://www.bseindia.com/xml-data/corpfiling/AttachHis/Temptation_Foods_Ltd_021210.pdfaes 

 

 

 

TFL’s SHARE PRICE AND  VALUATION WILL SEDUCE YOU

TFL  closed at Rs 22 yesterday…a FV of Rs 10….If you look at the Valuation metrics,you’ll be excited

EPS : Rs 25….P/E : 0.88…..Market Cap : Rs 89 crs….Sales : Rs 1277 crs…..Mkt Cap/Sales : 0.07 !…Book Value : Kissing Rs 100…P/BV : 0.22 !

JUST DON’T GET TEMPTED !

ANNUAL REPORT OF TFL FOR 2009/10….ATHERSTONE AMUSES WITH THEIR ‘TRUTH’ THEME !

I was intrigued….I usually am where Item Girls and Songs are involved !….so I took a bite of Annual Report of TFL to begin with !…. I actually laughed !….here’s why….

…..What a lovely designer Annual Report 2009/10…was completely seduced by it…have a look…you’ll be stunned too….the concept,content and design is by Atherstone who are Professional Consultants and Specialists in Investor Communications….title says 2007-08 but the Annual Report is for 2009/10 so go ahead and click  

http://www.temptationfoods.com/reports/TFL_AnnualReport_2007-08.pdf

Atherstone surely must be trying to bury their heads in the sand!…their Annual Report Theme was ‘A TASTE FOR TRUTH’ !

Here are some marvellous gems from the Annual Report…even in the Report they are in Capital Letters and stated in big bold colours with each phrase hogging the whole Page ! 

A TASTE FOR TRUTH……TRUTH CAN BE HEARTBREAKING……TRUTH CAN BE UGLY….TRUTH CAN BE UNCOMFORTABLE…..TRUTH CAN BE BEAUTIFUL

THE JOURNEY FROM BLISSFULL IGNORANCE TO THE REALM OF TRUTH IS BOTH CHALLENGING AND ENLIGHTENING

Quotes Attributed to : read more

Auditors Price Waterhouse….You are sealing your own Fate in this Satyam fraud!

Leave a Comment / Chuckle !, Controversies, Corporate Governance, Information Technology, Insider Trading, Interesting News Sightings, INVESTOR MISTAKES, Reflections, Satyam : The Sordid Asatyam Saga, STOCKS, VALUATION / By

The battered auditors of Satyam,Price Waterhouse,have just issued a letter dated January 13,2009 addressed to their Client,Satyam Computer Services Ltd and marked for the attention of the three New Directors in the New Board and the Company Secretary….This Letter is also been cced to SEBI,RBI,BSE,NSE,New York Stock Exchange,ROC,Hyderabad and the Central Board of Direct Taxes

The Letter reads like a Confession of sorts.First a gist of Some important extracts and then later my observations are as below

  • The letter is signed by a Partner (Name Not Given) on behalf of Price Waterhouse.It is not signed by PWC India Chairman,Ramesh Rajan,who ,a few days ago, sent an email to all employees intimating them that they have begun a comprehensive internal review and requesting them not to discuss the Satyam Issue or offer any comments to the Press or external Sources
  • It refers to the Audit Period from Quarter ending June 30,2000 to Quarter ending September 30,2008…that’s Eight and a Half Years that included 34 quarters
  • PW planned and performed the required audit procedures on the Financial Statements Prepared by Management,examined the books and records produced by the Management and relied on Management for Controls over Financial Reporting,Information and Explanations and Verbal and Written Representations
  • In light of the Confession of Fraud by the ex-chairman and promoter of Satyam,Ramalinga Raju,PW warns that their opinions on the financial statements may be rendered inaccurate and unreliable
  • In accordance with the Guidance Note of January 2003 of the ICAI for Revision of the Audit Report and which prescribes steps the auditor must follow to prevent reliance on audit reports under such circumstances,PW has stated that their audit reports and opinions in respect of the Financial Statements for the Audit Period should no longer be relied on
  • In USA,Under GAAP too such a requirement as above is prescribed…Under Sec10A of the US Securities and Exchange Act of 1934,the Information contained in the Chairman’s Letter indicates that an illegal act could have occured.PW advises the Board of Directors to conduct an independent investigation under this US Law section to unearth this illegal act. 
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